When to use this
Before you sign, see exactly what you will pay each month and how much of it is interest. Compare the three common repayment structures on identical terms and open the full amortization schedule.
How to use it
- Enter the principal, annual rate and term.
- Choose the repayment type.
- Read the monthly payment and total interest, or expand the schedule.
Frequently asked questions
- Which repayment type costs less?
- Equal-principal pays less total interest but starts with higher payments. Fixed payment keeps every month the same and is easier to budget.
- Does this include fees?
- No. Origination fees, insurance and early-repayment penalties vary by lender and are not included.